OpenERP raised 3 million EUR

in Odoo News

by
Fabien Pinckaers (fp)

...and we keep growing every day

OpenERP announced in january 2010 that it raised 3 million euros. The investors are Sofinnova Partners, represented by Olivier Sichel, and the Iliad's managers, Xavier Niel and Olivier Rosenfeld. The funds raised will allow OpenERP to achieve its ambition to be one of the leading application business suite vendors worldwide.

OpenERP's strategy is based on a unique ecosystem which combines the resources of the community, of its partner’s network and of the editor. The community contributes to the ongoing enrichment of the OpenERP solution. The partners tailor the solution to customers needs and provide the customer support. The editor guarantees the quality and the long term sustainability of the software.

In the past few years, OpenERP has experienced extremely fast growth, but only self-funded and with limited financial resources. This fundraising represents a crucial milestone for OpenERP's development since it will allows OpenERP to focus its resources less on project management and more on its core business as a software editor.

In particular, OpenERP will be in a position to invest in the following areas:

  • Investing in the development of the OpenERP's software
  • Recruiting and training a worldwide network of partners
  • Developing new services such as maintenance and SaaS

We are particularly proud to have found such quality investors, with a really good understanding of the stakes, constraints and objectives relating to open source software. Indeed, as investors are highly selective, it was really equally important for OpenERP to find investors that share our Open Source vision.